5631 Washington Pike, Knoxville, TN
Land for Sale - $1,986,875 - 50 acres
Property Info
CIMLS# | 951211 |
Location 5631 Washington Pike Knoxville TN 37918 | |
Updated | September 6th, 2017 |
Type | Land |
Price | $1,986,875 |
Land | 50 acres |
Property Description
50 acres zoned for up to multi-family 275 units. Priced at $8500/door. Adjoins Legends at Oak Grove, a 264 unit Class A apartment development delivered in 2010. The developable acreage is cleared, whereas areas of heavy topography are wooded, allowing for dense low-rise garden style apartments. The most recently available FEMA Flood Map (dated 3/17/2014) shows no area of the property classified as Flood Risk Areas.
The property shares with Legends at Oak Grove an existing access road (Rising Oak Way) to Washington Pike (Approximately 6,937 VPD), with room for signage on Washington Pike. Rising Oak Way could be extended to the property to McCampell Drive to tie together the front and rear of the property, or could terminate at the new entrance of the 50 acre development site.
The property is zoned RP-1(K) 3-D-12-RZ.This zoning will permit 5.5 units per acre. The site is located in Knoxville